Banana Republic 2012 Annual Report Download

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2012 Annual Report
Our definition of
success: offering
amazing products
across our portfolio
of brands that
customers can’t
live without.

Table of contents

  • Page 1
    Our definition of success: offering amazing products across our portfolio of brands that customers can't live without. 2012 Annual Report

  • Page 2
    Our customers feel a passion for our product and a loyalty to our brands that inspires and energizes us. It's the personal connection we strive for every day. And there's nothing better than seeing how customers wear their favorites.

  • Page 3

  • Page 4
    Crystalin An My Gap khaki trench fits perfectly. And I love the way this white oxford shirt fits and makes me feel. I love the idea of maybe wearing designer jeans with a Gap tee. I mean it doesn't get better than that. Her favorites: Trench, shirt and belt (Gap)

  • Page 5
    ... has it. The pattern in front stands out and makes it look very sophisticated. Today, I'm wearing high heels, and this scarf matches the dress perfectly. I've worn it at weddings in Mexico and Napa, and it always works great. Her favorites: Dress (Banana Republic) Cuff and scarf (Piperlime)

  • Page 6
    ... denim. To me, American style is that perfect pair of jeans that are comfortable and make you feel good about yourself. I can wear my Rockstar denim to work and to go out. And the bright pop of color makes you happy even when the day's drab and dreary. Her favorites: Jeans and belt (Old Navy)

  • Page 7
    ... my favorite t-shirt because I just like how the colors jump out. And I like the shark heads in the televisions. My mom got me this hoodie for Christmas. She probably got it because it says San Francisco to New York, and I was born in New York. His favorites: T-shirt (Gap Outlet) Hoodie (Old Navy)

  • Page 8
    Zoe Goodman My favorite colors are pink and white. Zoe's mom: I remember Zoe trying on the pu y vest from Old Navy and she didn't want to take it o because it was so fun. Her favorites: Denim jacket (Gap) Vest and jeans (Old Navy)

  • Page 9
    ... The red khakis are my favorites because they're so soft. It feels like I've had them for years only there are no holes. I love wearing them with all di erent shoes and shirts. And I always get compliments because they really do stand out in a crowd. His favorites: Khakis (Gap) Shoes (Piperlime)

  • Page 10
    ... and triathlete, and this top is perfect for running. It's thin but super warm, so it's functional. And it's very stylish. I've worn it to work many times. It speaks to my style because it's comfortable and casual and you can dress it up or down. Her favorites: Top and vest (Athleta) Scarf (Gap)

  • Page 11
    ...work, I try to keep it classy, always wearing a jacket. This gray Banana Republic jacket is my favorite and really can go with anything. And blue jeans are the most iconic American look. I went to Gap, tried these selvedge jeans on, and fell in love with them. His favorites: Jacket, shirt and shoes...

  • Page 12
    ... first Old Navy store abroad. In North America, Athleta stores expanded to 35 locations, while Piperlime, with its online selection of curated, on-trend product from hundreds of labels, tested its first store concept in New York City. And we ended the year by acquiring multi-brand retailer, Intermix...

  • Page 13
    ... more original, authentic product, our brands found the ideal mix of style, quality and price that positioned them to win in the marketplace. Among the many product successes this year were: the bright and fresh colors that highlighted Gap's casual style, Banana Republic's focus on "new work" that...

  • Page 14
    ... open about 150 stores net worldwide in 2013. This marks the first time since 2007 that our total company-operated square footage will increase year-over-year, and our growth is broad-based, both in terms of brands and geography. The expansion includes: Gap and Banana Republic franchise stores; Old...

  • Page 15
    2012 Gap Inc. Annual Report China, the second largest retail market in the world, has also proven to be an exciting market for Gap brand. We see near-term prospects to add another 35 stores in China in 2013, for a total of about 80. China represents a cornerstone of our global strategy, and one of ...

  • Page 16
    ... 1969, they set out to help customers find the perfect pair of jeans. They accomplished that and much more - pioneering specialty retail and instilling a longstanding commitment within the company to the communities where we do business. After more than four decades, Gap Inc. continues to be guided...

  • Page 17
    ... 460,000 hours to their communities last year. It makes me feel good and incredibly proud. We've had volunteers help rebuild homes following Hurricane Katrina in New Orleans, and Superstorm Sandy in New Jersey. Our Gap store employees in Connecticut partnered with the online team in San Francisco to...

  • Page 18
    We are guided by a promise to do more than sell clothes.

  • Page 19
    ... For the Fiscal year ended February 2, 2013 Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission File Number 1-7562 THE GAP, INC. (Exact name of registrant as specified in its charter) Delaware (State of Incorporation...

  • Page 20
    ...new store openings and store closings in fiscal 2013; • net square footage change in fiscal 2013; • the number of new franchise stores in fiscal 2013; • impact of returning to a 52-week fiscal year in fiscal 2013; • impact of foreign exchange rate fluctuations; • operating margin in fiscal...

  • Page 21
    ... • the risk that changes in our credit profile or deterioration in market conditions may limit our access to the capital markets and adversely impact our financial results or our business initiatives; • the risk that trade matters could increase the cost or reduce the supply of apparel available...

  • Page 22
    THE GAP, INC. 2012 ANNUAL REPORT ON FORM 10-K TABLE OF CONTENTS Page PART I Item 1. Business 5 8 13 13 13 13 PART II Item 5. Item 6. Item 7. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities Selected Financial Data Management's Discussion ...

  • Page 23
    ...handbags, shoes, jewelry, personal care products, and eyewear for men and women at higher price points than Gap. Today, customers can purchase Banana Republic products in our specialty and outlet stores, online, and in franchise stores. Old Navy. Old Navy opened its first store in 1994, offering fun...

  • Page 24
    ... on the selling season and the size and location of the store. Stores are generally open seven days per week (where permitted by law) and most holidays. We ended fiscal 2012 with 3,407 Company-operated and franchise store locations. For more information on the number of stores by brand and region...

  • Page 25
    ... inventory in distribution centers. We review our inventory levels in order to identify slow-moving merchandise and broken assortments (items no longer in stock in a sufficient range of sizes or colors) and we primarily use markdowns to clear merchandise. Also see the section entitled "Risk Factors...

  • Page 26
    ...business, results of operations, cash flows, and financial position. Our business is highly competitive. The global apparel retail industry is highly competitive. We compete with local, national, and global department stores, specialty and discount store chains, independent retail stores, and online...

  • Page 27
    ... for Gap, Banana Republic, and Old Navy. We do not have experience operating under this new global brand structure. If we are not successful in competing effectively under this structure, our results of operations could be adversely affected. We must successfully gauge apparel trends and changing...

  • Page 28
    ... in fiscal 2013, we will combine all channels and geographies under one global leader each for Gap, Banana Republic, and Old Navy. Each global brand president will oversee their brand's specialty, outlet, online, and franchise operations. We currently plan to open additional Old Navy stores outside...

  • Page 29
    ... the market price of our common stock and cause our credit ratings to decline. Changes in our credit profile or deterioration in market conditions may limit our access to the capital markets and adversely impact our financial results or our business initiatives. In the first quarter of fiscal 2011...

  • Page 30
    ...data center, and store operations, as well as help desk, end user support, and some disaster recovery. Since the original agreement in January 2006, we have amended the agreement to take back certain services originally performed by IBM. These returned services include services related to management...

  • Page 31
    ... 915,000 square feet of corporate office space located in San Francisco, Rocklin, Petaluma, and Los Angeles, California; New York, New York; Albuquerque, New Mexico; and Toronto, Ontario, Canada. We also lease regional offices in North America and in various international locations. We own...

  • Page 32
    ...stock is traded is the New York Stock Exchange. The number of holders of record of our stock as of March 19, 2013 was 7,894. The table below sets forth the market prices and dividends declared and paid for each of the fiscal quarters in fiscal 2012 and 2011. Market Prices Fiscal 2012 High Low Fiscal...

  • Page 33
    Table of Contents Total Return Analysis 2/2/2008 1/31/2009 1/30/2010 1/29/2011 1/28/2012 2/2/2013 The Gap, Inc. S&P 500 Dow Jones U.S. Apparel Retailers $ $ $ 100.00 100.00 100.00 $ $ $ 59.61 61.37 53.55 $ $ $ 102.81 81.71 101.41 $ $ $ 105.47 99.84 125.79 $ $ $ ...

  • Page 34
    ...conjunction with "Management's Discussion and Analysis of Financial Condition and Results of Operations" in Item 7 and the Company's Consolidated Financial Statements and related notes in Item 8. Fiscal Year (number of weeks) 2012 (53) 2011 (52) 2010 (52) 2009 (52) 2008 (52) Operating Results ($ in...

  • Page 35
    ...We are a global retailer offering apparel, accessories, and personal care products for men, women, children, and babies under the Gap, Old Navy, Banana Republic, Piperlime, Athleta, and Intermix brands. We have Company-operated stores in the United States, Canada, the United Kingdom, France, Ireland...

  • Page 36
    ... percentage change in Comp store sales by brand and region and for total Company, excluding the associated comparable online sales, as compared with the preceding year, is as follows: Fiscal Year 2012 2011 Gap North America Old Navy North America Banana Republic North America International The Gap...

  • Page 37
    ...2011 Number of Store Locations Fiscal 2011 Number of Number of Stores Opened Stores Closed January 28, 2012 Number of Square Footage Store Locations (in millions) Gap North America Gap Europe Gap Asia Old Navy North America Banana Republic North America Banana Republic Asia Banana Republic Europe...

  • Page 38
    ... at fiscal 2012 exchange rates. • For the Direct reportable segment, our net sales for fiscal 2012 increased $367 million compared with fiscal 2011. The increase was due to growth in our online business across all brands and the incremental sales related to new Athleta stores. In fiscal 2012, our...

  • Page 39
    ... federal income tax accounting method change application and the resolution of the Internal Revenue Service's review of the Company's federal income tax returns and refund claims for fiscal 2001 through 2006. Income Taxes ($ in millions) 2012 Fiscal Year 2011 2010 Income taxes Effective tax rate...

  • Page 40
    ...: • an increase in net income in fiscal 2012 compared with fiscal 2011; • an increase related to income taxes payable, net of prepaid income taxes and other tax-related items, in fiscal 2012 compared with fiscal 2011 primarily due to the timing of tax payments; • an increase related to accrued...

  • Page 41
    ...intended to supersede or replace our GAAP result. The following table reconciles free cash flow, a non-GAAP financial measure, from a GAAP financial measure. ($ in millions) 2012 Fiscal Year 2011 2010 Net cash provided by operating activities Less: Purchases of property and equipment Free cash flow...

  • Page 42
    ... a number of factors including sustainability, operating performance, liquidity, and market conditions. We increased our annual dividend, which had been $0.45 per share for fiscal 2011, to $0.50 per share for fiscal 2012. We intend to increase our annual dividend to $0.60 per share for fiscal 2013...

  • Page 43
    ... to Consolidated Financial Statements for discussion of our operating leases. Represents estimated open purchase orders to purchase inventory as well as commitments for products and services used in the normal course of business. Commercial Commitments We have commercial commitments, not reflected...

  • Page 44
    ... Finance Committee of our Board of Directors, which has reviewed our disclosure relating to critical accounting policies and estimates in this annual report on Form 10-K. Merchandise Inventory We value inventory at the lower of cost or market ("LCM"), with cost determined using the weighted-average...

  • Page 45
    ... rate of sales returns increases significantly, our operating results could be adversely affected. We have not made any material changes in the accounting methodology used to estimate future sales returns in the past three fiscal years. Unredeemed Gift Cards, Gift Certificates, and Credit Vouchers...

  • Page 46
    ... Statements. Item 7A. Quantitative and Qualitative Disclosures About Market Risk. Derivative Financial Instruments We operate in foreign countries, which exposes us to market risk associated with foreign currency exchange rate fluctuations. Our risk management policy is to hedge the following using...

  • Page 47
    ...in money market funds, time deposits, and commercial paper. These investments are classified as held-to-maturity based on our positive intent and ability to hold the securities to maturity. We value these investments at their original purchase prices plus interest that has accrued at the stated rate...

  • Page 48
    ... FINANCIAL STATEMENTS Page Report of Independent Registered Public Accounting Firm Consolidated Balance Sheets as of February 2, 2013 and January 28, 2012 Consolidated Statements of Income for the fiscal years ended February 2, 2013, January 28, 2012, and January 29, 2011 Consolidated Statements...

  • Page 49
    ... opinions. A company's internal control over financial reporting is a process designed by, or under the supervision of, the company's principal executive and principal financial officers, or persons performing similar functions, and effected by the company's board of directors, management, and other...

  • Page 50
    ... THE GAP, INC. CONSOLIDATED BALANCE SHEETS ($ and shares in millions except par value) February 2, 2013 January 28, 2012 ASSETS Current assets: Cash and cash equivalents Short-term investments Merchandise inventory Other current assets Total current assets Property and equipment, net Other long...

  • Page 51
    ...THE GAP, INC. CONSOLIDATED STATEMENTS OF INCOME Fiscal Year ($ and shares in millions except per share amounts) 2012 2011 2010 Net sales Cost of goods sold and occupancy expenses Gross profit Operating expenses Operating income Interest expense (reversal) Interest income Income before income taxes...

  • Page 52
    ... THE GAP, INC. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME Fiscal Year 2011 $ 833 ($ in millions) 2012 $ 1,135 2010 $ 1,204 Net income Other comprehensive income (loss), net of tax: Foreign currency translation, net of tax (tax benefit) of $-, $(2), and $6 Change in fair value of derivative...

  • Page 53
    ... of shares withheld for employee taxes Tax benefit from exercise of stock options and vesting of stock units Share-based compensation, net of estimated forfeitures Cash dividends Balance as of January 28, 2012 Net income Foreign currency translation, net of tax of $Change in fair value of derivative...

  • Page 54
    ...Fiscal Year 2011 ($ in millions) 2012 2010 Cash flows from operating activities: Net income Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization Amortization of lease incentives Share-based compensation Tax benefit from exercise of stock...

  • Page 55
    ... The Gap, Inc., a Delaware Corporation, is a global retailer offering apparel, accessories, and personal care products for men, women, children, and babies under the Gap, Old Navy, Banana Republic, Piperlime, Athleta, and Intermix brands. We have Company-operated stores in the United States, Canada...

  • Page 56
    ... Statements of Income over the remaining term of the leases. Insurance and Self-Insurance We use a combination of insurance and self-insurance for a number of risk management activities including workers' compensation, general liability, and employee-related health care benefits, a portion...

  • Page 57
    ... related benefits (for our store operations, field management, distribution centers, and corporate functions); • marketing; • general and administrative expenses; • costs to design and develop our products; • merchandise handling and receiving in distribution centers; • distribution center...

  • Page 58
    ...of an asset may not be recoverable. Events that result in an impairment review include the decision to close a store, corporate facility, or distribution center, or a significant decrease in the operating performance of the long-lived asset. Long-lived assets are considered impaired if the estimated...

  • Page 59
    ...appropriate discount rates and royalty rates. Goodwill and other indefinite-lived intangible assets, including the trade names, are recorded in other long-term assets in the Consolidated Balance Sheets. Lease Losses The decision to close a store, corporate facility, or distribution center can result...

  • Page 60
    ... our customers with private label credit cards and/or co-branded credit cards (collectively, the "Credit Cards"). Each private label credit card bears the logo of Gap, Old Navy, or Banana Republic and can be used at any of our U.S. or Canadian store locations and online. The cobranded credit card is...

  • Page 61
    ... on the respective line items in net income. The ASU is effective for annual and interim reporting periods beginning after December 15, 2012 and as such, we will adopt the disclosure provisions in the first quarter of fiscal 2013. Note 2. Additional Financial Statement Information Cash and Cash...

  • Page 62
    ... in fiscal 2010. We recorded a charge for the impairment of long-lived assets related to our Stores reportable segment of $8 million, $16 million, and $8 million for fiscal 2012, 2011, and 2010, respectively, which is recorded in operating expenses in the Consolidated Statements of Income. 44

  • Page 63
    ... millions) February 2, 2013 January 28, 2012 Accrued compensation and benefits Unredeemed gift cards, gift certificates, and credit vouchers, net of breakage Short-term deferred rent and tenant allowances Insurance liabilities Sales return allowance Accrued advertising Credit card reward points and...

  • Page 64
    ... in millions) February 2, 2013 January 28, 2012 Foreign currency translation, net of tax Accumulated changes in fair value of derivative financial instruments, net of tax Accumulated other comprehensive income Sales Return Allowance A summary of activity in the sales return allowance account is as...

  • Page 65
    ... fiscal 2013 and immaterial amounts in each of the following three fiscal years. During fiscal 2012, 2011, and 2010, there were no changes in the $54 million carrying amount of Athleta's trade name. Athleta's intangible assets subject to amortization of $15 million, consisting primarily of customer...

  • Page 66
    ... the unamortized discount. As of February 2, 2013 and January 28, 2012, the estimated fair value of the Notes was $1.41 billion and $1.19 billion, respectively, and was based on the quoted market price of the Notes (level 1 inputs) as of the last business day of the respective fiscal year. In April...

  • Page 67
    ...in money market funds, time deposits, and commercial paper. These investments are classified as held-to-maturity based on our positive intent and ability to hold the securities to maturity. We value these investments at their original purchase prices plus interest that has accrued at the stated rate...

  • Page 68
    ... fiscal 2012, 2011, or 2010. Note 8. Derivative Financial Instruments We operate in foreign countries, which exposes us to market risk associated with foreign currency exchange rate fluctuations. Our risk management policy is to hedge a portion of our transactions related to merchandise purchases...

  • Page 69
    ... fiscal 2012, 2011, or 2010 as a result of hedge ineffectiveness, hedge components excluded from the assessment of effectiveness, or the discontinuance of net investment hedges. Other Derivatives Not Designated as Hedging Instruments We use foreign exchange forward contracts to hedge our market risk...

  • Page 70
    ... OCI and the Consolidated Statements of Income, on a pre-tax basis, are as follows: Fiscal Year ($ in millions) 2012 2011 2010 Derivatives in cash flow hedging relationships: Gain (loss) recognized in other comprehensive income Gain (loss) reclassified into cost of goods sold and occupancy expenses...

  • Page 71
    ... Share-based compensation expense is as follows: Fiscal Year ($ in millions) 2012 2011 2010 Stock units Stock options Employee stock purchase plan Share-based compensation expense Less: Income tax benefit Share-based compensation expense, net of tax $ $ 92 $ 17 4 113 (44) 69 $ 39 $ 15...

  • Page 72
    ... 2, 2013 A summary of additional information about Stock Units is as follows: 2012 7,937,101 3,798,940 2,105,971 (2,922,254) (1,554,323) 9,365,435 $ $ $ $ $ $ 18.74 25.00 24.84 17.08 21.82 22.62 Fiscal Year 2011 2010 Weighted-average fair value per share of Stock Units granted Grant-date fair...

  • Page 73
    ...on each of the four anniversary dates. The fair value of stock options issued during fiscal 2012, 2011, and 2010 was estimated on the date of grant using the following assumptions: 2012 Fiscal Year 2011 2010 Expected term (in years) Expected volatility Dividend yield Risk-free interest rate 4.6 33...

  • Page 74
    ...15 percent discount. Employees pay for their stock purchases through payroll deductions at a rate equal to any whole percentage from 1 percent to 15 percent. There were 960,930, 1,357,769, and 1,301,167 shares issued under the ESPP in fiscal 2012, 2011, and 2010, respectively. As of February 2, 2013...

  • Page 75
    ...result in a total net cash outlay of approximately $13 million for the remaining lease terms. Note 12. Income Taxes For financial reporting purposes, components of income before income taxes are as follows: ($ in millions) 2012 Fiscal Year 2011 2010 United States Foreign Income before income taxes...

  • Page 76
    ... 2, 2013 and we have recorded related tax expense of $5 million. The difference between the effective tax rate and the U.S. federal tax rate is as follows: 2012 Fiscal Year 2011 2010 Federal tax rate State income taxes, less federal benefit Tax impact of foreign operations Other Effective tax rate...

  • Page 77
    ... tax benefits is as follows: ($ in millions) 2012 Fiscal Year 2011 2010 Balance at beginning of fiscal year Increases related to current year tax positions Prior year tax positions: Increases Decreases Cash settlements Expiration of statute of limitations Foreign currency translation Balance at end...

  • Page 78
    ... in fiscal 2012, 2011, and 2010, respectively. We maintain the Gap Inc. DCP, which allows eligible employees and non-employee directors to defer compensation up to a maximum amount. Plan investments are recorded at market value and are designated for the DCP. The fair value of the Company's DCP...

  • Page 79
    ... products - apparel, accessories, and personal care products. As of February 2, 2013, we have two reportable segments: • Stores - The Stores reportable segment includes the results of the retail stores for Gap, Old Navy, and Banana Republic. We have aggregated the results of all Stores operating...

  • Page 80
    ... sales by brand, region, and reportable segment are as follows: ($ in millions) Fiscal 2012 Gap Old Navy Banana Republic Franchise (3) Other (4) Total Percentage of Net Sales U.S. (1) Canada Europe Asia Other regions Total Stores reportable segment Direct reportable segment (2) Total Sales growth...

  • Page 81
    ... primarily consist of corporate purchases of property and equipment. Selected financial information by reportable segment and reconciliations to our consolidated totals are as follows: ($ in millions) 2012 Fiscal Year 2011 2010 Operating income: Stores Direct Operating income Depreciation and...

  • Page 82
    ... based on the location of the distribution center from which the products were shipped. Net sales by geographic location are as follows: ($ in millions) 2012 Fiscal Year 2011 2010 U.S. (1) Canada Total North America Other regions Total net sales _____ (1) U.S. includes the United States and Puerto...

  • Page 83
    ...quarter of fiscal 2012 that has materially affected, or is reasonably likely to materially affect, the Company's internal control over financial reporting. Item 9B. Other Information. Not applicable. Part III Item 10. Directors, Executive Officers and Corporate Governance. The information required...

  • Page 84
    ... and Related Transactions, and Director Independence. The information required by this item is incorporated herein by reference to the sections entitled "Other Information" and "Corporate Governance-Director Independence" in the 2013 Proxy Statement. Item 14. Principal Accounting Fees and Services...

  • Page 85
    ... of Contents Part IV Item 15. Exhibits, Financial Statement Schedules. 1. 2. Financial Statements: See "Index to Consolidated Financial Statements" in Part II, Item 8 of this Form 10-K. Financial Statement Schedules: Schedules are included in the Consolidated Financial Statements or notes of this...

  • Page 86
    ... Executive Officer) Date: March 26, 2013 By /s/ SABRINA L. SIMMONS Sabrina L. Simmons Executive Vice President and Chief Financial Officer (Principal Financial and Accounting Officer) Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below...

  • Page 87
    ... Company of California, filed as Exhibit 4 to Registrant's Form 10-Q for the quarter ended November 1, 1997, Commission File No. 1-7562. Indenture, dated November 21, 2001, between Registrant and The Bank of New York, filed as Exhibit 4.2 to Registrant's Annual Report on Form 10-K for the year ended...

  • Page 88
    ... Exhibit 10.32 to Registrant's Form 10-K for the year ended January 31, 2009, Commission File No. 1-7562. Second Amendment to Supplemental Deferred Compensation Plan - Merging of Executive Deferred Compensation Plan into the Plan and Name Change to Deferred Compensation Plan, filed as Exhibit 10.33...

  • Page 89
    ...of Executive Deferred Compensation Plan into the Plan and Name Change to Deferred Compensation Plan, filed as Exhibit 10.2 to Registrant's Form 10-Q for the quarter ended October 31, 2009, Commission File No. 1-7562. 1981 Stock Option Plan, filed as Exhibit 4.1 to Registrant's Registration Statement...

  • Page 90
    ...'s 2002 Stock Option Plan, as amended, filed as Exhibit 4.7 to Registrant's Registration Statement on Form S-8, Commission File No. 333-72921. Non-Employee Director Retirement Plan, dated October 27, 1992, filed as Exhibit 10.43 to Registrant's Annual Report on Form 10-K for the year ended January...

  • Page 91
    ... year ended February 3, 2007, Commission File No. 1-7562. 2011 Long-Term Incentive Plan, filed as Appendix A to Registrant's definitive proxy statement for its annual meeting of stockholders held on May 17, 2011, Commission File No. 1-7562. Form of Non-Qualified Stock Option Agreement for Executives...

  • Page 92
    ... of Stock Unit Agreement and Stock Unit Deferral Election Form for Nonemployee Directors under the 2006 Long-Term Incentive Plan, filed as Exhibit 10.2 to Registrant's Form 10-Q for the quarter ended July 29, 2006, Commission File No. 1-7562. Form of Performance Share Agreement for Executives under...

  • Page 93
    ... Contents 10.92 Summary of Revised Timing of Annual Board Member Stock Unit Grants, effective August 20, 2008, filed as Exhibit 10.3 to Registrant's Form 10-Q for the quarter ended November 1, 2008, Commission File No. 1-7562. Agreement with Art Peck dated January 31, 2011, filed as Exhibit 10.2 to...

  • Page 94
    ... No. 1-7562. Agreement for Post-Termination Benefits with Colin Funnell dated June 3, 2012, filed as Exhibit 10.7 to Registrant's Form 10-Q for the quarter ended April 28, 2012, Commission File No. 1-7562. Summary of Changes to Non-employee Director Compensation effective February 15, 2008, filed as...

  • Page 95
    ... materials from The Gap, Inc.'s Annual Report on Form 10-K for the year ended February 2, 2013, formatted in XBRL (eXtensible Business Reporting Language): (i) the Consolidated Balance Sheets, (ii) the Consolidated Statements of Income, (iii) the Consolidated Statements of Stockholders' Equity...

  • Page 96
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  • Page 97
    ...Street San Francisco, CA 94105 415-427-0100 [email protected] Stock Exchange listing Trading Symbol "GPS"/New York Stock Exchange Annual Shareholders' Meeting May 21, 2013, 10:00 a.m. Gap Inc. headquarters 2 Folsom Street San Francisco, CA 94105 Independent Registered Public Accounting Firm...

  • Page 98
    We are united by a common mission to be the world's favorite for American style.